Satie is still largely appreciated, especially by pianists, who find many of his pieces difficult in their simplicity, just as Mozart's piano works can be difficult ("too easy for children, too difficult for adults" Artur Schnabel (?) said). The recent recording by Jean-Yves Thibaudet is very fine indeed; the classic recording is by Aldo Ciccolini.
My take on Satie's oddball output is that it centers on his conviction that "music can express nothing." The Six flirted with this idea, but I suppose the composer most influenced by it was Stravinsky, who is the supreme trickster of modified forms and reworkings.
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